Can I save my home if I declare bankruptcy?Yes, in certain cases. A Chapter 13 Bankruptcy allows a debtor to catch up on arrearages owed to save a home from foreclosure. The plan payment usually lasts 3 to 5 years. Monthly installment payments are made to the Trustee who in turn distributes the payment to the creditor. Your normal mortgage payment would also need to be made in addition to the payment to the Trustee. If you have questions about bankruptcy, contact our office for a FREE confidential consultation with a lawyer from our firm. |
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